Trump said on Monday that 25% tariffs on imports from Mexico and Canada would start Tuesday, March 4, the AP reported.
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US Construction Spending Slips 0.2% in January
Total construction spending during January was at a seasonally adjusted annual rate of $2,192.5 billion, 0.2% below December.
US Commerce Secretary Says Tariffs on Canada and Mexico Will Begin March 4, But Rate May Change
Lutnick confirmed that tariffs on Canada and Mexico will start March 4, but said Trump will determine whether to stick with the planned 25% level, Reuters reported.
US Home-Purchase Agreements Fall Through at an Elevated Rate in January
41,000 home-purchase agreements fell through in January, equal to 14.3% of the homes that went under contract during the month, Redfin reported.
Canadian Real GDP Increases 0.6% in Q4
Real GDP increased 0.6% on a quarterly basis in Q4, after increasing 0.5% in Q3.
US Personal Income and Outlays for January
Personal income increased 0.9%, disposable personal income increased 0.9%, and personal consumption expenditures decreased 0.2%.
President Trump Says Tariffs on Canada, Mexico, and China Will Be Implemented on March 4
Posting on Truth Social, Trump said he plans to impose 25% tariffs on Canada and Mexico starting March 4, the AP reported.
US 30-Year Mortgage Rates Decline to Lowest Level in Over Two Months
The 30-year fixed-rate mortgage averaged 6.76%, down from last week when it averaged 6.85%, Freddie Mac reported.
US Real GDP Increases at an Annual Rate of 2.3% in Q4, BEA Reports in Its “Second” Estimate
Real GDP increased at an annual rate of 2.3% in Q4, following a reported real GDP increase of 3.1% in Q3.
US Mortgage Application Payments Rise in January
The MBA Purchase Applications Payment Index increased 3.1% to a reading of 165.9 in January, up from December’s reading of 160.8.